ISLAMABAD - Under a comprehensive programme, it is planned to enhance the capacity of Pakistan Steel Mills (PSM) by more than 100 per cent, from the existing 1.3 million tons per year (MTPY) to 3 MTPY till 2012, to meet the country's requirements. The PSM management told this in a briefing given to the Advisor to the Prime Minister for Industries and Production Mian Manzoor Ahmad Wattoo here on Thursday. Secretary Industries and Production Shahab Khawaja and Chairman PSM Moeen Aftab Sheikh attended the briefing. The Advisor to the Prime Minister for Industries and Production said that expansion in capacity was required to make PSM more economic and financially viable to meet the increasing demand of steel in the country. PSM management should work hard on the comprehensive expansion plan to generate its own resources to fund this expansion plan, he added. Wattoo was given a detailed briefing about the overall working and structure of the PSM. An expansion plan was underway and by the end of current year the capacity would increase to 1.3 MTPY from the current 1 MTPY. Under the second phase of the expansion plan, by end of 2010, the capacity will be increased to 1.5 MTPY. After the completion of third phase in 2012, the total capacity of PSM will reach to the figure of 3 MTPY. Wattoo instructed the PSM management to increase its dependence on the local run material in its expansion plans and other routine operations. He said that there were many iron ore and coal reserves in different parts of the country, which should be utilised to save the foreign exchange and decrease dependence on imported raw material.